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(P1)Recent years have brought minority-owned businesses UnitedStates unprecedented opportunities significantrisks Civil rights activists have long argued principalreasons why Blacks, Hispanics, otherminority groups have difficulty establishing themselves lackaccess sizableorders largecompanies. Now Congress, apparentagreement, has required businessesawarded federal contracts morethan $500,000 do findminority subcontractors doso formsfiled government.Indeed, (some federal localagencies) have gone so far setspecific percentage goals apportioningpart publicworks contracts minorityenterprises. Corporate response appears havebeen substantial. (According figurescollected corporatecontracts minoritybusinesses rose from $77 million $1.1billion projectedtotal corporatecontracts minoritybusinesses early1980's over$3 billion per year letupanticipated nextdecade. Promising minoritybusinesses, increasedpatronage poses dangers them,too. First, minority firms risk expanding too fast overextendingthemselves financially, since most smallconcerns unlikelarge businesses, oftenneed makesubstantial investments newplants, staff, equipment, performwork subcontracted somereason reduced, firmscan face potentially crippling fixed expenses. corporatepurchasing can smallentrepreneurs who get requests elaborateformal estimates bids.Both consume valuable time smallcompany's efforts must soon result financialhealth secondrisk White-ownedcompanies may seek increasingapportion ments through formation jointventures minority-ownedconcerns. manyinstances legitimatereasons jointventures; clearly, White minorityenterprises can team up acquirebusiness neithercould acquire alone. civilrights groups minoritybusiness owners have complained Congressabout minorities being set up Whitebacking, rather than being accepted fullpartners legitimatejoint ventures. Third, minorityenterprise onelarge corporate customer often run remainingdependent.
